265 E Prairie St Manhattan, IL 60442
Estimated payment $4,817/month
About This Home
Rarely does an opportunity like this hit the market in the heart of rapidly growing Manhattan - a solid brick, fully occupied 4-unit investment property perfectly positioned in one of Will County's most desirable suburban communities known for its top-rated schools, strong household incomes, commuter convenience, and small-town charm. This well-maintained two-story building offers an ideal unit mix with three spacious 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, with most interiors thoughtfully updated and improved within the last three years to appeal to today's tenants. Investors will appreciate the simplified management structure with all-electric appliances, electric heat, and separate electric hot water heaters, along with an updated roof and windows within the last 11 years and a renovated common laundry area that adds additional tenant convenience and long-term value. The property also features abundant rear parking plus additional front parking, a major advantage for tenants seeking suburban ease and functionality. Located on a quiet residential street just moments from downtown Manhattan, local restaurants, shopping, transportation, parks, and highly regarded school districts. This property checks every box for investors seeking stable occupancy, long-term appreciation potential, and consistent suburban rental demand. Manhattan continues to attract families, commuters, and professionals looking for a quieter lifestyle with access to Chicago via Metra while enjoying the benefits of a high homeownership community with continued residential growth and limited multifamily inventory. Opportunities to acquire turnkey, income-producing brick multifamily assets in locations like this are becoming increasingly difficult to find, making this an exceptional addition for seasoned investors, 1031 exchange buyers, or those looking to break into multifamily ownership with a low-maintenance, high-demand suburban asset positioned for long-term success. The building next door at 275 is also being sold separately. Double your investment(s)
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $16,031
Year Built
- Built in 1969
Home Design
- Brick Exterior Construction
Bedrooms and Bathrooms
- 7 Bedrooms
- 7 Potential Bedrooms
- 4 Bathrooms
Parking
- 7 Parking Spaces
- Parking Available
- Parking Included in Price
Additional Features
- Lot Dimensions are 50x135
- Heating Available
Community Details
- 4 Units
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $16,031 | $160,000 | $25,000 | $135,000 |
| 2023 | $15,914 | $160,000 | $25,000 | $135,000 |
| 2022 | $14,345 | $139,650 | $21,200 | $118,450 |
| 2021 | $11,350 | $110,200 | $21,200 | $89,000 |
| 2020 | $11,380 | $110,200 | $21,200 | $89,000 |
| 2019 | $11,350 | $110,200 | $21,200 | $89,000 |
| 2018 | $10,284 | $100,200 | $21,200 | $79,000 |
| 2017 | $10,334 | $100,200 | $21,200 | $79,000 |
| 2016 | $10,389 | $100,200 | $21,200 | $79,000 |
| 2015 | $10,432 | $100,200 | $21,200 | $79,000 |
| 2014 | $10,432 | $100,200 | $21,200 | $79,000 |
| 2013 | $10,432 | $100,200 | $21,200 | $79,000 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 05/13/2026 05/13/26 | For Sale | $645,000 | +19.7% | -- | |
| 04/12/2022 04/12/22 | Sold | $539,000 | 0.0% | -- | View Prior Sale |
| 03/09/2022 03/09/22 | Pending | -- | -- | -- | |
| 03/07/2022 03/07/22 | For Sale | $539,000 | -- | -- |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $539,000 | Berardi And Associates Llc | |
| Interfamily Deed Transfer | -- | Greater Illinois Title Compa |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $192,000 | Commercial |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12647335
APN: 14-12-17-406-025
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Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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